Nifty opened Gap up and its intra-low was a crucial level of 5322 which was a combined support of 78.6% retracement as well as Value Area High of previous days Market Profile (link) as mentioned in the previous market stats. So as 5320 was not broken Longs were initiated for the target of 5380 and we got intra high of 5370, though I also mentioned longs should be only initiated above 5350 but double support at 5320 prompted me to initiate longs.
Todays Stat:
FIIs were buyers in all the segments. Net buyer in Index Futures to the tune of 1310 cr.
Net buyers of options 1030 crores and Stocks Futures 282 crores.
FIIs bought 26 lacs of Nifty and Open interest grossly increased from 17 lacs means Retailers were short 9 lacs of Nifty.
Options chain is quite interesting today as there is fresh buildup of 21 lacs O.I in 5300 put ( A new support??). At the same time addition in 5400 call to the tune of 8 lacs taking the highest O.I in the call series to 61 lacs. In the down side 72 and 55 lacs of O.I buildup is there in 5200 and 5300 puts respectively. Fiis were aggressive buyers today so it will be interesting to see if 5400 resistance holds out or not in the coming sessions.
Hope you liked it.
Will update my picks in the mornings.
Waiting for your comments.....
No comments:
Post a Comment